Vancouver, Canada – July 12, 2018 – Nexus Gold Corp. (“Nexus” or the “Company”) (TSX-V: NXS, OTC: NXXGF, FSE: N6E) is pleased to announce that it has closed the final tranche of its non-brokered private placement (the “Private Placement”) of units (each, a “Unit”) at a price of $0.25 per Unit. Each Unit consists of one common share of the Company, and one common share purchase warrant (each, a “Warrant”). Each Warrant is exercisable to acquire one additional common share of the Company at a price of $0.35 per share for a period of twelve months.
In connection with completion of this final tranche, the Company issued 432,768 Units. When combined with the earlier tranche of the Private Placement, the Company has raised gross proceeds of $825,232.50. This Private Placement follows the successful completion of the Company’s earlier financing round for gross proceeds of $3,004,068.
In connection with completion of this final tranche of the Private Placement, the Company has paid cash commissions of $2,400 and issued 9,600 share purchase warrants (each, a “Finders’ Warrant”) to certain persons who have introduced subscribers to the Company. Each Finders’ Warrant is exercisable to acquire an additional common share of the Company on the same terms as the Warrants comprising the Units. All securities issued in connection with the Private Placement are subject to a four-month-and-one-day statutory hold period.
About the Company
Nexus Gold is a Vancouver-based gold exploration and development company operating primarily in Burkina Faso, West Africa. The Company is currently concentrating its efforts on establishing a compliant resource on one or more of its three current projects. The 38-square km Bouboulou project comprises no less than five established gold zones contained within three separate 5km gold trends. The adjacent 250-square km Rakounga gold concession extends the Bouboulou gold trends and currently contains three drill tested zones of mineralization. The Niangouela gold concession is a 178-square km project featuring high-grade gold occurring in and around a primary quartz vein and associated shear zone approximately one km in length.
On behalf of the Board of Directors of
NEXUS GOLD CORP.
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.